UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark one)

/X/     QUARTERLY  REPORT  PURSUANT  TO  SECTION  13 OR 15(d) OF THE  SECURITIES
        EXCHANGE ACT OF 1934

        For the quarterly period ended SEPTEMBER 30, 1997

                                       OR

/ /     TRANSITION  REPORT  PURSUANT  TO SECTION  13 OR 15(d) OF THE  SECURITIES
        EXCHANGE ACT OF 1934

        For the transition period from ________to________

                           COMMISSION FILE NO. 0-21324

                             TRINITECH SYSTEMS, INC.
             (Exact name of registrant as specified in its charter)

             NEW YORK                                06-1344888
        (State of incorporation)         (I.R.S. Employer identification number)

         333 LUDLOW STREET, STAMFORD, CONNECTICUT         06902
         (Address of principal executive offices)       (Zip Code)

       Registrant's telephone number, including area code: (203) 425-8000


         Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. Yes /X/ No / /


8,259,530  shares of Common Stock were issued and outstanding as of November 11,
1996.


<PAGE>

                         PART I - FINANCIAL INFORMATION
ITEM 1.    Financial Statements

TRINITECH SYSTEMS, INC.
<TABLE>
<CAPTION>

BALANCE SHEETS                                                                     (Unaudited)
                                                                                  September 30,            December 31,
ASSETS                                                                                1997                     1996
                                                                                -----------------     --------------------
CURRENT ASSETS:
<S>                                                                                   <C>                      <C>       
Cash                                                                                  $2,666,060               $1,198,730
Accounts receivable                                                                    2,312,341                3,802,364
Inventories                                                                            1,586,380                1,154,187
Prepaid expenses and other                                                               338,905                  315,911
                                                                                -----------------     --------------------
     Total Current Assets                                                              6,903,686                6,471,192
                                                                                -----------------     --------------------

EQUIPMENT - net of accumulated depreciation of $586,928
     and $417,087 at September 30 and December 31, respectively                          802,715                  434,638
                                                                                -----------------     --------------------

OTHER ASSETS - net of accumulated amortization of $901,031
     and $832,652 at September 30 and December 31, respectively                          604,747                  617,506
                                                                                -----------------     --------------------

TOTAL                                                                                 $8,311,148               $7,523,336
                                                                                =================     ====================

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable - trade                                                                $855,102               $1,386,306
Accrued expenses                                                                         278,268                  525,653
Current portion of term loans payable                                                     51,648                   25,994
Credit line payable                                                                         -                     745,000
Advance billings                                                                         141,829                  149,675
Payroll and other taxes payable                                                           94,194                   65,808
                                                                                -----------------     --------------------
     Total Current Liabilities                                                         1,421,041                2,898,436

TERM LOANS PAYABLE                                                                        54,746                   31,065
                                                                                -----------------     --------------------
     Total Liabilities                                                                 1,475,787                2,929,501
                                                                                -----------------     --------------------

COMMITMENTS:

STOCKHOLDERS' EQUITY:
10% Convertible preferred stock - par value $1.00; 1,000,000
     shares authorized; -0- outstanding                                                     -                        -
Common stock - par value $.001; 15,000,000 shares authorized
     8,242,530 and 7,375,030 shares issued and outstanding
     in 1997 and 1996, respectively                                                        8,243                    7,375
Additional paid-in capital                                                             9,814,045                6,088,975
Accumulated deficit                                                                   (2,986,927)              (1,502,515)
                                                                                -----------------     --------------------
     Total Stockholders' Equity                                                        6,835,361                4,593,835
                                                                                -----------------     --------------------

TOTAL                                                                                 $8,311,148               $7,523,336
                                                                                =================     ====================
</TABLE>
See Notes to Financial Statements.

                                        2
<PAGE>
TRINITECH SYSTEMS, INC.

STATEMENTS OF OPERATIONS (Unaudited)
<TABLE>
<CAPTION>
                                              --- Three Months Ended ---                          --- Nine Months Ended ---
                                           September 30,            September 30,            September 30,             September 30,
                                               1997                     1996                      1997                     1996
                                          ------------------     --------------------     ---------------------     ----------------

REVENUES:
<S>                                       <C>                       <C>                      <C>                      <C>       
Sales                                     $  549,509                $ 837,359                $2,990,786               $3,060,009
Service contracts                            259,793                  184,660                   768,638                  533,973
                                          -----------               ----------                ----------              ----------
     Total Revenues                          809,302                1,022,019                 3,759,424                3,593,982
                                          -----------               ----------                ----------              -----------

COST OF SALES AND SERVICE:
Parts and materials                          206,217                  275,073                 1,009,202                1,516,223
Labor, overhead and other costs              278,888                  221,160                   717,098                  516,947
                                          -----------               ----------                ----------              ----------
     Total Cost of Sales and Service         485,105                  496,233                 1,726,300                2,033,170
                                          -----------               ----------                ----------              ----------

GROSS PROFIT                                 324,197                  525,786                 2,033,124                1,560,812
                                          -----------               ----------                ----------              ----------

EXPENSES:
Selling, general and administrative        1,241,663                  799,273                 3,476,698                2,153,268
Depreciation and amortization                 60,008                   42,165                   158,594                  118,379
                                          -----------               ----------                ----------              ----------
     Total Expenses                        1,301,671                  841,438                 3,635,292                2,271,647
                                          -----------               ----------                ----------              ----------

LOSS FROM OPERATIONS                        (977,474)                (315,652)               (1,602,168)                (710,835)

OTHER INCOME - NET                            41,240                   18,860                   117,756                   55,919
                                          -----------               ----------              ------------              -----------

NET LOSS                                   ($936,234)               ($296,792)              ($1,484,412)               ($654,916)
                                          ===========               ==========              ============              ===========

NET LOSS PER COMMON SHARE                 $   ( 0.11)                 $( 0.04)                  $( 0.18)                 $( 0.09)
                                          ===========               ==========              ============              ===========

AVERAGE COMMON SHARES
        OUTSTANDING                        8,219,800                7,306,500                 8,027,200                7,292,100
                                          ===========               ==========              ============              ===========
</TABLE>
 

See Notes to Financial Statements.

                                        3
<PAGE>

TRINITECH SYSTEMS, INC.

STATEMENTS OF CASH FLOWS (Unaudited)
<TABLE>
<CAPTION>

                                                               ---Nine Months Ended ---
                                                          September 30,             September 30,
                                                               1997                     1996
                                                          -------------------------------------------
OPERATING ACTIVITIES:
<S>                                                             <C>                        <C>       
Net loss                                                        ($1,484,412)               ($654,916)
Adjustments to reconcile net loss to
   net cash used in operating activities:
     Depreciation and amortization                                  439,264                  348,737
     Changes in assets and liabilities:
       Accounts receivable                                        1,490,023                  298,853
       Inventories                                                 (432,193)                (105,789)
       Prepaid expenses                                             (22,994)                (158,470)
       Accounts payable - trade                                    (531,204)                 205,199
       Deferred revenue                                              (7,846)                 (56,583)
       Payroll and other taxes payable                               28,386                   34,534
       Accrued expenses                                            (247,385)                 (52,744)
                                                          ------------------     --------------------
Net cash used in operating activities                              (768,361)                (141,179)
                                                          ------------------     --------------------

INVESTING ACTIVITIES:
Payments for equipment                                             (537,918)                (111,732)
Payments for other assets                                          (256,664)                (268,085)
                                                          ------------------     --------------------
Net cash used in investing activities                              (794,582)                (379,817)
                                                          ------------------     --------------------

FINANCING ACTIVITIES:
Issuance of common stock                                          3,725,938                   73,620
Proceeds from borrowings                                               -                      30,000
Repayment of borrowings                                            (695,665)                 (12,500)
                                                          ------------------     --------------------
Net cash provided by financing activities                         3,030,273                   91,120
                                                          ------------------     --------------------

INCREASE (DECREASE) IN CASH                                       1,467,330                 (429,876)

CASH, BEGINNING OF PERIOD                                         1,198,730                1,258,119
                                                          ------------------     --------------------

CASH, END OF PERIOD                                              $2,666,060                 $828,243
                                                          ==================     ====================
</TABLE>

See Notes to Financial Statements.

                                        4

<PAGE>
TRINITECH SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS (Unaudited)

1.          BASIS OF PRESENTATION

            The  accompanying  financial  statements  have been  prepared by the
            Company  without audit (except for the balance sheet  information as
            of  December  31,  1996 which has been  derived  from the  Company's
            audited financial  statements) in accordance with generally accepted
            accounting   principles  for  interim   financial   information  and
            instructions  to Form 10-QSB and Item 310 (b) of Regulation  S-B. In
            the  opinion of  management,  all  adjustments  (consisting  of only
            normal  recurring   accruals)   considered   necessary  for  a  fair
            presentation have been included.

            The  accompanying   financial  statements  do  not  include  certain
            footnotes  and  financial   presentations  normally  required  under
            generally accepted accounting  principles and, therefore,  should be
            read in  conjunction  with  the  Company's  1996  audited  financial
            statements. Results of operations for the period ended September 30,
            1997 are not  necessarily  indicative  of operating  results for the
            fiscal year.

2.          INVENTORIES

            Inventories are stated at the lower of cost (first-in, first-out) or
market. Inventories consisted of the following:

                                         September 30, 1997    December 31, 1996
                                         ------------------    -----------------
            Parts                           $1,076,326          $   750,722
            Finished goods                     510,054              403,465
                                            ----------          -----------
                        Total               $1,586,380          $ 1,154,187
                                            ==========          ==========

3.          PER SHARE INFORMATION

            Net loss per common share is based on the weighted average number of
            common shares  outstanding.  Common stock  equivalents have not been
            included  in the per  share  calculation  because  their  effect  is
            anti-dilutive.   In  February  of  1997,  the  Financial  Accounting
            Standards Board issued  Statement of Financial  Accounting  Standard
            No. 128, "Earnings Per Share". The Company will adopt this standard,
            as required, at the end of this year. Had this standard been adopted
            at the beginning of 1997, for the three and nine month periods ended
            September 30, 1997 the Company  would have  reported  basic loss per
            share of $0.11 and $0.18, respectively.

4.          RIGHTS AGREEMENT

            On  September 1, 1997,  the Board of  Directors  declared a dividend
            distribution  of one  Right  for each  outstanding  share of  Common
            Stock,  par value $.001 per share, of the Company to stockholders of
            record on September  19, 1997.  Each Right  entitles the  registered
            holder to purchase from the Company one  one-hundredth of a share of
            Series A  Preference  Stock,  par  value  $.001  per  share,  of the
            Company,  at a price of $40 per one  one-hundredth  of a  Preference
            Share, subject to adjustment, upon change of control in the Company,
            as defined in the rights agreement.

                                       5
<PAGE>
ITEM 2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF FINANCIAL  CONDITION  AND
            RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

            The Company  commenced  its present  business  operations in January
1991  through the  acquisition  of a software  license  for its  Guided-Input(R)
Trinitech  TouchPad(R)  System.  The  following  discussion  should  be  read in
conjunction  with  the  consolidated  financial  statements  and  related  notes
included  elsewhere  herein.   Certain  statements   included  in  this  report,
including,  but not limited to, statements in this  Management's  Discussion and
Analysis  of  Financial  Condition  and  Results  of  Operations,  which are not
historical  facts may be deemed  to  contain  forward  looking  statements  with
respect to events,  the occurrence of which  involves  risks and  uncertainties,
including,  but not limited to, the Company's  expectations regarding net sales,
gross profit, operating income (loss) and financial condition.

REVENUES

            Revenues for the three and nine months ended September 30, 1997 were
$809,302  and  $3,759,424  as  compared  to  $1,022,019  and  $3,593,982  in the
comparable  periods in 1996.  The  decrease in  revenues  during the three month
period ended  September 30, 1997 over the  comparable  1996 quarter  principally
resulted  from two  reasons,  1) the  Company is  shifting  its revenue mix from
traditional  capital equipment sales to licensing-based  and  subscription-based
revenue,  resulting in revenue to recur over a 12 to 36 month period rather than
up-front,  2) the Company is now offering  its  trading-products  together  with
linkage through its data-center. In connection therewith, several contracts that
the Company had on hand, at the end of the third quarter, involves outside third
party services, ie. communication  linkage,  expected to be completed during the
fourth quarter. As a result, revenue on such contracts will not occur until they
are  fully  installed  and  supporting  the  new  services  of the  data-center.
Management is of the opinion that charging  customers by subscription and adding
additional  data-center  routing services,  should provide an increasing rate of
new sales contracts and increase in revenue in the future.

            Subscription  revenue  contracts are generally for an initial period
of one year with one to three year  renewal  periods.  Initial  annual  revenues
range from $15,000 to over $100,000,  per contract.  Most contracts  provide the
customer with a basic system or infra-structure,  via the Company's data-center.
Most contracts are entered into by the customer with the intention to expand the
level of services  subscribed to, once the basic system and  infra-structure  is
operational. During the three months ended September 30, 1997, capital equipment
sales,  software and subscription revenue were approximately 58%, 28% and 14% of
sales revenues, respectively as compared to 70%, 30% and 0%, respectively during
the three months ended September 30, 1996. Although  subscription-based  revenue
has the  short-term  negative  impact of reduced  revenues  in the early  stage,
management believes that the change will have a long-term positive impact on the
future  revenue  growth of the Company.  Management  is of the opinion that this
change will result in additional  new orders and increased  market share that it
otherwise  would not have had, as well as longer-term  predictable  revenues per
customer. The increase in revenues for the nine month period ended September 30,
1997 over the comparable  1996 period was  principally due to an increase in the
delivery of software  systems,  specifically for the Company's  FIXtalk software
system, partially offset by a decrease in capital equipment sales. Approximately
28% and 37% of the Company's sales revenues for the three and nine month periods
ended  September  30, 1997 were  derived

                                       6
<PAGE>

from  software  licenses  as compared  to  approximately  30% and 20% during the
comparable periods in 1996. Revenue from export sales approximated  $87,000 (16%
of sales) and  $1,528,000  (51% of sales) during the three and nine months ended
September 30, 1997 as compared to $617,000 (74% of sales) and $2,209,000 (72% of
sales) during the comparable periods in 1996. In addition, revenues from service
contracts  increased  by 41% and 44% in the three and nine month  periods  ended
September 30, 1997 over the  comparable  1996  periods.  The increase in service
revenue  resulted from increased sales of hardware and software  products during
the past year.

COST OF SALES AND SERVICE AND GROSS PROFIT

            The Company's cost of sales and service is principally  comprised of
labor,  materials,  overhead and amortization of capitalized product enhancement
costs.  Gross profit as a percentage of total  revenues were 40.1% and 54.1% for
the three and nine month periods  ended  September 30, 1997 as compared to 51.4%
and 43.4% during the  comparable  periods in 1996.  The increase in gross profit
percentage,  experienced  by the Company  during the nine month  period in 1997,
principally  resulted from an increase in the amount of higher  margin  software
installations  which was partially  offset by lower margins  associated with the
Company's touch vending terminal  products sold during the first quarter of 1997
and  throughout  1996.  The Company  obtains its  materials  and supplies from a
variety  of vendors  in the US and Far East.  During  the three and nine  months
ended September 30, 1997, the Company did not experience any  significant  price
increases in its component parts purchased.

SELLING, GENERAL AND ADMINISTRATIVE

            Selling,  general and administrative expenses for the three and nine
month  periods  ended  September  30, 1997 were  $1,241,663  and  $3,476,698  as
compared  to $799,273  and  $2,153,268  in the  comparable  periods in 1996,  an
increase  of  55.3%  and  61.5%,  respectively.  Such  increases  reflected  the
continued  expansion of the development teams both in the U.S and in London. The
expansion in development  efforts relates to the Company's plans of providing an
increased  number of new additional  services during second half of 1997.  These
services relate to offering  subscription and transaction  based  order-routing,
via the  Company's  data-center,  to  multiple  exchange-floors  and between the
"Buy-side"  and  "Sell-side"  industry.  As a result,  the  Company  experienced
increases in salaries and related personnel costs,  travel expenses,  recruiting
fees and various office  expenses.  During the past two years, the Company added
personnel  principally to its technical  programming and sales staff and, during
the nine months ended  September 30, 1997,  the Company added 15 new  employees.
The  Company's  recruitment  effort,  which  began  during  1993,  continues  to
strengthen the Company's  infrastructure  and position the Company to respond to
increasing  market  and  revenue  opportunities.  The  Company,  during the past
several  years,  has spent a  considerable  effort in  developing  a variety  of
"trader desk-top" and "exchange-floor" trading systems. Management believes that
the  investment in  development of the new  data-center,  and its services,  are
designed to better  leverage  the  existing  products  together  with  providing
additional  sources of revenue.  The Company has also  continued  its  marketing
programs for 1997, primarily focusing on public relations activities, production
of various product brochures,  and  representation at technological  exhibitions
planned throughout the year. Research and development (new explorative research)
expenses  for the  three  and  nine  month  periods  ended  September  30,  1997
approximated  $71,900 and  $212,800  as compared to $56,000 and  $180,000 in the
comparable   periods  in  1996  and  are   included  in  selling,   general  and
administrative expenses.

                                       7

<PAGE>
OTHER INCOME

            Other  income  consists  principally  of  interest  earned  on  cash
balances  and sublease  income  earned.  Interest  income for the three and nine
month periods ended September 30, 1997 were  approximately  $41,200 and $104,800
as  compared  to $9,200 and  $26,700  in the  comparable  periods  in 1996.  The
increase in other income principally results from interest earned on higher cash
balances  maintained by the Company during 1997. The Company previously leased a
portion of its  corporate  office  facility  under a three-year  sublease  which
expired on April 30, 1997. Due to the continuing  expansion of operations,  (see
"Selling,  General  and  Administrative"  above) the  Company has decided not to
renew the  sublease  and  incorporated  such space into its  existing  corporate
facility.  Sublease rental income earned during the three and nine month periods
ended  September 30, 1997  approximated $0 and $13,000 as compared to $9,700 and
$29,200 in the comparable 1996 periods.

NET INCOME (LOSS)

            Net loss for the three months ended  September 30, 1997 was $936,234
($0.11 per share) as compared to a net loss of $296,792 ($0.04 per share) in the
three  months  ended  September  30,  1996.  Net loss for the nine months  ended
September  30, 1997  totaled  $1,484,412  ($0.18 per share) as compared to a net
loss of $654,916  ($0.09 per share) in the nine months ended September 30, 1996.
This  increase  in net  loss,  during  the three and nine  month  periods  ended
September 30, 1997,  principally  resulted  from 1) decrease in "capital  sales"
type revenue resulting from the Company moving to a  subscription-based  revenue
model  which  presently  is in its early  stage of growth  and 2) lower  margins
experienced on the sale of the Company's  touch vending  terminal  products sold
during the first quarter of 1997.  See "Revenues" and "Cost of Sales and Service
and Gross Profit" above.

            Management  has  made  a  considerable  effort  with  respect  to an
expansion of its operations,  development of various trading systems which began
in 1993 and continues  into 1997 and changes to its business  model to that of a
subscription-based product offering. The Company believes that this expansion of
personnel,  facilities,  product  portfolio  and  subscription-based  model will
better position the Company and facilitate its future growth.  However, in spite
of its optimism,  management is also  cautioning  that the Company's  aggressive
conversion from a capital sales model to a  subscription-based  model is causing
revenue recognition from subscription-based  orders to be realized over a longer
period of time than the previous capital sales model.

LIQUIDITY AND CAPITAL RESOURCES

            Since its formation, the Company's primary source of working capital
has been private  offerings  of its  securities,  through  which the Company has
raised  approximately  $9.8 million of working  capital.  At September 30, 1997,
cash balances increased to $2,666,060 from $1,198,730 at December 31, 1996.

            The  Company's  current  assets at September  30, 1997  exceeded its
current  liabilities by approximately  $5,483,000.  The Company at September 30,
1997 had long-term debt totaling  approximately $54,700 which represents secured
term loans on the purchase of development  equipment.  In addition, at September
30, 1997, the Company had no material  commitments  for capital  expenditures or
inventory purchases. The Company had available a one million dollar bank line of
credit  facility  for the  purpose of  financing  accounts  receivable  and,  at
September 30, 1997,  the Company had not used the line of credit  facility.  The
line of credit,  secured by accounts  receivable and inventory,  expires on June
30, 1999.  Interest on the line of credit is based on the bank's prime rate plus
one percent.

                                       8
<PAGE>
            The Company believes that with its available capital, line of credit
facility and  anticipated  funds generated from  operations,  it will be able to
fund its cash needs  through  the end of 1997  without  the need for  additional
capital or  financing.  The Company  intends to utilize its  positive  financial
position  to  internally   finance  its  continuing   research  and  development
activities and anticipated sales growth.  The Company's  financial  requirements
and its  ability  to meet them  thereafter  will  depend  largely  on its future
financial  performance.  However,  in the event the Company's  operations do not
generate cash to the extent  currently  anticipated by management of the Company
and grow more rapidly than  anticipated,  it is possible  that the Company would
require  additional  funds beyond 1997. At this time,  the Company does not know
what sources, if any, would be available to it for such funds, if required.

            In  addition,  at  September  30,  1997,  the Company  has  warrants
outstanding  for the purchase of 528,837  shares of its Common stock at exercise
prices  between  $2.00 to $4.50.  Assuming the exercise of all such  outstanding
Warrants, the Company would realize approximately  $1,477,000 in gross proceeds.

                                       9
<PAGE>
                                  SIGNATURES


            Pursuant to the requirements of the Securities Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned thereunto duly authorized.


Dated:  November 13, 1997


                                      TRINITECH SYSTEMS, INC.
                                      (Registrant)


                                      By:  /s/ Peter Kilbinger Hansen
                                           --------------------------
                                           Peter Kilbinger Hansen
                                           Chairman of the Board
                                                 and President
                                           (Chief Executive Officer)



                                      By:  /s/ William E. Alvarez, Jr.
                                           ---------------------------
                                           William E. Alvarez, Jr.
                                           Chief Financial Officer and Secretary
                                           (Principal Financial and Accounting
                                            Officer)